Investment Apartment Building in Chikushino, Fukuoka

This property is a two-story wooden apartment building located in Harisuri Minami 1-chome, Chikushino City, Fukuoka Prefecture. It offers a solid investment opportunity with a current occupancy of four out of five total units. The building was constructed in July 1980 and sits on a land area of approximately 100.12 tsubo (331 sqm). The total building area is 198.73 sqm (approximately 60.11 tsubo).

The property is currently tenanted, and the lease agreements are to be transferred to the new owner. The current annual rental income is ¥1,828,800, which, based on the asking price of ¥27.8 million, translates to a current yield of approximately 6.0%. The projected yield at full occupancy is 6.5%. It is important to note that the yield is calculated as the ratio of annual rental income (including common area fees) to the sale price, before deducting taxes, public charges, and other necessary maintenance costs for the property. Furthermore, the projected rent and projected yield are calculated based on market rent, adding rent for the vacant portion and assuming full occupancy. Rental income is not guaranteed to be reliably obtained in the future. (Survey date: July 14, 2023).

The location provides excellent access to two train lines: it is a 7-minute walk to the Nishitetsu Tenjin Omuta Line's Asakuragaido Station and a 9-minute walk to the JR Kagoshima Main Line's Tenpaizan Station. Daily amenities are conveniently close, with a supermarket within a 10-minute walk. The property is situated in a Category I Low-Rise Exclusive Residential Zone. A special note from the agent reiterates that the property is tenanted (lease agreement transfer required) and that the site has a minimum area of 200 sqm.